Furukawa Electric selected for the first time as a CDP “Climate Change A List” company in FY2020
- Highly positive evaluation of our approaches to climate change risks and opportunities -
- This is the first time Furukawa Electric has been selected by CDP, an international environmental NGO, as a “Climate Change A List” company—their highest rating
- Evaluated items include climate change targets, action, and transparency-related initiatives
- We will continue to promote ESG management to contribute toward achieving SDGs and realizing the Furukawa Electric Group Vision 2030
Furukawa Electric Co., Ltd. (Head Office: 2-2-3, Marunouchi, Chiyoda-ku, Tokyo, President: Keiichi Kobayashi) has been highly rated by CDP, an international environmental NGO, which has selected Furukawa Electric as a “Climate Change A List” company in recognition of its outstanding climate change initiatives and related information disclosure.
To contribute toward achieving sustainable development goals (SDGs) and realize the Furukawa Electric Group Vision 2030 (hereafter, “Vision 2030”), the Furukawa Electric Group established the Sustainability Promotion Office under the Administration & CSR Division in FY2019. We are also working to strengthen ESG (Environment, Society, and Governance) management in order to achieve improved corporate value over the medium to long term, with ESG at its foundation. For the company to achieve sustainable growth, it is essential to develop business activities that take climate change into consideration. To this end, we have identified climate change as one of our top management priorities (a materiality) for achieving Vision 2030, and as such, we are promoting measures to counter climate change, as well as disclosing related information.
In recent years, extreme weather events occurring in various parts of the world have affected the Furukawa Electric Group’s business activities. In response, the Group has strengthened its environmental management systems throughout its business activities by establishing the Environmental Targets 2030 plan, and has promoted the disclosure of information, such as by responding to CDP questionnaires and publishing integrated reports and sustainability books. Furthermore, in August 2019, we obtained SBTi certification for our 2030 greenhouse gas (GHG) emissions reduction target defined in Environmental Targets 2030, and in January 2020, we accelerated our efforts to address climate change by supporting the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
CDP, an international environmental NGO, gave a highly positive evaluation of the Furukawa Electric Group’s efforts to address climate change, including its setting of targets, action taken, transparency, initiatives related to risks and opportunities, and proactive disclosure of information related to the above, selecting the Group as one among 270 “Climate Change A List” companies for the first time.
To contribute toward the achievement of our SDGs and realize Vision 2030, we will continue to promote energy conservation activities at our plants and works, as well as renewable energy sources such as hydroelectric power and solar power, both of which we have been using continuously for over a century, and promote initiatives throughout the value chain to achieve our 2030 greenhouse gas (GHG) reduction target, while also enhancing information disclosure and increasing the credibility of our initiatives, thereby strengthening our relationships of trust with stakeholders.
Related News Releases (Furukawa Electric’s Approaches to Climate Change and Assessments Thereof)
Furukawa Electric website “Sustainability” page
CDP is a non-governmental organization (NGO) managed by a British charity and operates a global information disclosure system for investors, businesses, countries, regions, and cities to manage their environmental impact. CDP began activities in Japan in 2005.
Furukawa Electric Group’s efforts towards the SDGs
Based on the corporate philosophy of “Drawing on more than a century of expertise in the development and fabrication of advanced materials to contribute to the realization of a sustainable society through continuous technological innovation,” the Furukawa Electric Group is conducting business activities centered on four core technological capabilities (metals, polymers, photonics and high frequency). Moreover, keeping in mind the “Sustainable Development Goals (SDGs)” adopted by the UN, we formulated the “Furukawa Electric Group Vision 2030,” which clarified the business areas of the Furukawa Electric Group, and are advancing efforts aimed at “creating solutions for the new generation of global infrastructure combining information, energy, and mobility to build a sustainable world and make people’s life safe, peaceful, and rewarding.